Director Dealings - News

LONDON (ShareCast) - A surge in the share price to a seven-month high has convinced Kingspan Group (Dublin: KRX.IR - news) co-founder and director Brendan Murtagh to cash in part of his stake.

Murtagh, who along with elder brother Eugene (A023410.KQ - news) set up the Irish insulation board maker in 1972, sold 500,000 shares at €4.75 each, netting €2.4m.

The shares have jumped from a low of around €2 in February, having fallen from over €8 last September. Murtagh still owns 4.6m shares, or 2.8% of the business.

Last month, Kingspan warned that trading in the first four months of 2009 had been "predictably tough" as customers remained reluctant to commit to newbuild construction projects.

Sales fell 34% to €350m and were down 39% excluding acquisitions, but the group expects some improvement in operating performance during the summer months.

The group has already scrapped its final dividend because of the tough conditions that caused a 70% plunge in full-year profit to €68.1m.

Two years ago, Murtagh pocketed nearly €90m from the sale of 2.4m shares at €20.05 each.

Top Director Buys

SVM Global Fund (SVG) Director name: Mr Senator Shane P N Ross Amount purchased: 50,000 @ 240.00p Value: £120,000

StatPro Group (SOG) Director name: Mr Mark Charles Fairbairn Amount purchased: 108,000 @ 75.00p Value: £81,000

John Menzies (MNZS) Director name: Mr Paul B Dollman Amount purchased: 34,843 @ 134.00p Value: £46,690

Advanced Medical Solutions (LSE: AMS.L - news) (AMS) Director name: Mr R Stephen Harris Amount purchased: 79,270 @ 25.00p Value: £19,818

Aurora Inv Trust (ARR) Director name: Mr M J Barstow Amount purchased: 15,000 @ 123.50p Value: £18,525

Tarsus Group (LSE: TRS.L - news) (TRS) Director name: Mr Douglas Emslie Amount purchased: 17,647 @ 102.00p Value: £18,000

ISIS Property Trust (IPT) Director name: Mr Peter Crook Amount purchased: 18,000 @ 76.00p Value: £13,680

Aurora Inv Trust (ARR) Director name: Mr M J Barstow Amount purchased: 10,000 @ 121.00p Value: £12,100

Top Director Sells

Kingspan Group (KGP (109070.KS - news) ) Director name: Mr Brendan Murtagh Amount sold: 500,000 @ € 4.75 Value: € 2,375,000

Jardine Matheson (Singapore) (JAR) Director name: Mr Adam Phillip Charles Keswick Amount sold: 20,000 @ $24.98 Value: $499,680

Scottish & Southern Energy (SSE (Frankfurt: A0RFBG - news) ) Director name: Mr Alistair Phillips-Davies Amount sold: 27,448 @ 1,140.60p Value: £313,072

Scottish & Southern Energy (SSE) Director name: Mr Ian Marchant Amount sold: 21,393 @ 1,140.60p Value: £244,009

Robert Wiseman (RWD) Director name: Mr William G Keane Amount sold: 33,802 @ 377.10p Value: £127,467

Robert Wiseman (RWD) Director name: Mr David Dobbins Amount sold: 33,802 @ 377.10p Value: £127,467

Scottish & Southern Energy (SSE) Director name: Mr Gregor Alexander Amount sold: 10,821 @ 1,140.60p Value: £123,424

General Electric (NYSE: GE - news) (GEC) Director name: Mr Keith S. Sherin Amount sold: 6,293 @ € 9.84 Value: € 61,955

StatPro Group (SOG) Director name: Mr Mark Charles Fairbairn Amount sold: 90,000 @ 75.00p Value: £67,500

John Menzies (MNZS) Director name: Mr Paul B Dollman Amount sold: 25,485 @ 126.00p Value: £32,111